Good day,

The EURUSD has closely approached the 1.2000 horizontal level, away which it has the potential to jump.

Based on the reports by COT CFTC, large operators keep expanding long positions and closing the short ones. Currently, Euro vs. USD buy ratio is 3:1. Therefore, this asset could soon pull from the 1.2000 psychological level.

The U.S. Dollar Index has pulled from a very strong monthly supporting range formed between the levels 89.63 and 88.50. So, let’s wait and see how the current month is going to close. We believe that the U.S. Dollar is getting stronger with every passing day.

As we can see from Canadian dollar’s timeframe, there is downtrend and horizontal level of 1.2940. Away from the crossing point of these two lines this asset might head South.

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